Delta Capital Markets a con?

Upstart

Hi Golfer145 Have you trie any of the officlai financial complaints channels for fraud reporting?

Malthusian

Upstart wrote: »

Hi Golfer145 Have you trie any of the officlai financial complaints channels for fraud reporting?

Do the Marshall Islands have an official financial complaints channel?

tadworth01

I have reported DCM to Action Fraud and have handed complete logs of all transactions made by DCM on my account to the police. If enough victims make reports something might get done before DCM close down and make off into the sunshine. Practically all my deposit with DCM has been lost by what looks like deliberate manipulation of the trades - how else would the success rate be down at 20% averaged over the last 20 trades.

Is there anywhere else one can report DCM's activities?

RK1972

I've also been conned by DCM. I opened an "income" account with DCM; this awards quarterly dividends. I've tried to withdraw funds after 12 months, but have been informed my account manager had been switched my account to a growth account (1 year lock in from final deposit) without my consent. The account manager who made the switch no longer works at the company. Lodged a formal complaint with compliance and after 8 weeks they have been unable to provide me with evidence of a consented account switch (they will not release phone summaries or transcripts as this is against "company policy"). The "position" success has now fallen to <10% and my account value has depleted. I've reported the company to the FCA & action fraud (along with accounts into which the deposits were made).
Hopefully they won't be able to operate much longer.

Dan_Holmes

Hi all,

My dad and I are experiencing the same difficulties. He lodged a complaint with the police today, and will look to raise similar complaints with the FCA, Financial Ombudsman and their bank, which is Lloyds.

They are also on twitter if you wanted to make your disgruntlement public - @deltacapmarket.

If everyone starts making noise, we might get some joy!

Good luck

mikemycroft

I will send a private message to everyone who has indicated they have been defrauded by DCM, lets see if we can get some safety in numbers, What do we have to lose?
Because I don't post on here often, I can only send a PM every 60 minutes, so if you want to contact me instead feel free.
Cheers Mike

Malthusian

Anyone receiving private messages on the back of a post here should read up on scam recovery scams and on no account hand over any money for "solicitor fees" or "liquidation fees" or any other reason.

There are two ways to recover money in a situation like this, 1) credit card chargeback 2) if you were advised by an FCA-regulated adviser, claim via the FOS and FSCS (doesn't sound like this is relevant here) . Both are straightforward and free processes. If neither of these are possible, don't throw good money after bad.

mikemycroft

Thanks for the message I am not a solicitor and I am just trying to pursue any avenue I can to get some money back of my own from this company. I am in the process of threatening legal action against DCM. I did look at the visa approach but the money I paid in off my debit card was quite a long time ago and the bank told me I would not be able to pursue this route. That was July last year. I am very happy to receive any advice or help on this matter like the others who have posted on here I am unable to close my account and withdraw funds ( if they are still there) from the company.
I am definitely not touting for business sorry if that was not clear.
Cheers Mike.

mikemycroft

An update for those who are interested, I contacted Lloyds bank who I have identified as the bank used by these people; they are looking into he activity on this account.

badger09

mikemycroft wrote: »

An update for those who are interested, I contacted Lloyds bank who I have identified as the bank used by these people; they are looking into he activity on this account.

Really? On what basis?